Group's new subsidiary, Elad Far East, to run $210 million development project north of Beijing

Naama Sikuler|Published: 08.15.07 , 17:28

Yitzhak Tshuva's Elad Group announced Wednesday it was branching into China.

Elad Group formed a subsidiary – Elad Far East – which signed a partnership deal with China's Zeg Investments. The two are to build a $210 million, 1750 units apartment complex in Jinan, north of Beijing.

Elad Far East also plans to seek development deals in India and Singapore, where Elad Group runs several joint ventures with local companies.

Elad Group, expanded its holding in Los Angeles recently, purchasing land between Beverly Hills and Westwood, as part of a $330 million development deal.